Methanex (NASDAQ:MEOH) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Methanex (NASDAQ:MEOH) (TSE:MX) from a hold rating to a buy rating in a report published on Friday.

Several other equities research analysts have also commented on the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $55.00 price objective on shares of Methanex in a research note on Tuesday, September 3rd. Barclays lowered Methanex from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $56.00 to $44.00 in a research note on Tuesday, September 10th. UBS Group cut their price objective on Methanex from $54.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Piper Sandler boosted their price objective on Methanex from $51.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 10th. Finally, Raymond James dropped their price target on Methanex from $62.00 to $54.00 and set an “outperform” rating for the company in a research report on Wednesday, September 11th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $55.50.

Methanex Stock Performance

NASDAQ MEOH opened at $42.40 on Friday. Methanex has a twelve month low of $36.13 and a twelve month high of $56.43. The stock has a 50-day moving average of $40.99 and a 200 day moving average of $45.97. The company has a current ratio of 1.34, a quick ratio of 0.87 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of 19.81 and a beta of 1.36.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. PCJ Investment Counsel Ltd. acquired a new position in Methanex in the third quarter valued at approximately $471,000. MQS Management LLC acquired a new position in Methanex during the third quarter worth $401,000. Chartwell Investment Partners LLC lifted its stake in Methanex by 27.8% during the third quarter. Chartwell Investment Partners LLC now owns 202,863 shares of the specialty chemicals company’s stock worth $8,387,000 after purchasing an additional 44,173 shares in the last quarter. Westbourne Investment Advisors Inc. lifted its stake in Methanex by 1.6% during the third quarter. Westbourne Investment Advisors Inc. now owns 110,606 shares of the specialty chemicals company’s stock worth $4,572,000 after purchasing an additional 1,789 shares in the last quarter. Finally, US Bancorp DE lifted its stake in Methanex by 34.2% during the third quarter. US Bancorp DE now owns 13,888 shares of the specialty chemicals company’s stock worth $574,000 after purchasing an additional 3,540 shares in the last quarter. 73.49% of the stock is currently owned by institutional investors and hedge funds.

Methanex Company Profile

Methanex Corporation produces and supplies methanol in China, Europe, the United States, South America, South Korea, Canada, and Asia. The company also purchases methanol produced by others under methanol offtake contracts and on the spot market. In addition, it owns and leases storage and terminal facilities.